In addition, trades
posted by members of #FuturesTrades in the below trade post chat log
are by traders that do not have access to TheStrategyLab.com
strategies except for NihabaAshi.

Fee-based clients of TheStrategyLab.com
strategies use the private IRC rooms called #TheStrategyLab and
#SwingTradingTSL.

Further, you'll find below the chat room time stamped text log of realtime trades
(real money and simulator) that were posted
by full-time, part-time traders from around the world and the
timestamp is eastern standard time (est).

Also,
below NihabaAshi's trading blog like comments, you can read the time
stamped trades (prices, entries, exits et cetera) and market
discussions that sometimes contains trading tips
or insights that are more useful than what
you will see at any other futures blog or chat room.

Trading Blog

Below is not your traditional trader's blog in the usual blog format.
However, you will find informative commentary on a few occasions as time
permits and such will
contain trading tips that should help your trading as I attempt to sum up my
thoughts as I traversed from the first trade to the last trade that was
posted in #FuturesTrades realtime trade posting chat room.

First, I got a late start in getting my charts and
broker platform open by the time the market open.

The only thing I had open by 0930am est was the IRC
communication software for #FuturesTrades.

My sluggishness caused me to miss a big short signal
at the beginning and I begin trading in low volatility chop...resulting in
either consecutive losses or letting a profitable position become a loser.

The latter above, letting a profitable position become
a loser is a beginner mistake and not a mistake made by veteran traders.
Simply, those particular trades I'm extremely unhappy with my trading
performance.

However, fortunately I was small size only on those
trades and when the volatility picked up and I put on a nice size winner to
get most of my profits for the day and erase the earlier losses.

Yet, horrible win-loss ratio but excellent position
size management.

Just remember, November is a low volatility trading
month and if you see that same low volatility in the first hour of trading,
don't trade or keep your size small to compensate for the increased risk
exposure.

This is a market seasonal tendency that
should not be ignored nor underestimated.

With all that said above, don't kid yourself (I don't)
in that just because its a profitable day after all the mental errors that
things are ok.

It's not because making no adjustments after a trading
day like today can easily setup a big losing day or the start of a drawdown
period.

Analogy: Pretend your throwing touch down
passes and everybody is happy. However, if your throwing arm has improper
kinetic motions...eventually that arm will breakdown (injuries) and your
career can be over.

Thus, a profitable trading day or a losing trading day
is only good if you followed the trading plan.

Today's results (real money and simulator
trading) shown above are that
of NihabaAshi only. To see his total
accumulated points for the month of
November...click
here.To see results for the months of 2006 and
prior years...click
here.

Note:
Each month there are a few trading days that we consider to involve
interconnecting key price
action of different markets and such is represented by a particular type of
price action from one of the key markets. You can view the charts and their
clues that's associated with the
key price action at our
key market archives.

If your an independent trader looking for an
edge to help you traverse around obstacles to profitable trading...a method
that's well defined, gives you a better understanding of the markets,
applicable for day trading, position trading and swing trading with a money
back guaranteed policy...click
here.

As traders we must treat our trading like a
business if we are to succeed as traders and as a business. Therefore,
waiting till the last few weeks March to prepare for April's taxes is not
good for your trading and could put extra stress on your trading during tax
month or the months that follow if your one of those traders that filed an
extension.. Therefore, its best to be on top of your taxes throughout the
year and
Traders Accounting
is a great resource for such especially if you want to prevent penalties or
an audit several years from now.

way late on this target call, missed primary move. 770 in 44 minutes from high at 773, maybe a bit lower today, since there seems to be more wekness today.

11:23

the relative weakness may also have targets achieve relatively quicker then noraml.

11:26

<jperl>

do you want to tell us how you compute these numbers RD?

<RussellDaytrade>

hopefully, i'm not pushing my luck on this call, after 2-3 good ones earlier today.

jp, i have done a fair bit of research, an on-going work-in-progress...

11:27

<Brutus>

I'm looking for 765 before the end of the day.

<RussellDaytrade>

that has documented, measured, (in time and price), all the moves in the er, and calculates the statistical averages of moves, based upon their own averages, in differing time sessions of the trading day

11:29

jp, open that linked chart again, and take a look at the trendline drwan. note that it has an inception and terminus, that indicate both the price and time aspects. what i draw your attention to, is how the line helps to visualize when the 'price' deviates from the expected trajectory of where i am expecting it to go. this provides additional clues, such as secondary ehtries, ie (retests).

11:36

also when 'time' has expired, and so on.

11:37

<jperl>

what's the charting program you using RD?

<RussellDaytrade>

right now, there is approx 15-20 left on that last setup, and that spkie up just now is likely the secondary entry short, albeit a little later than i prefer to see them.

11:38

i have IB platform charts

11:39

for example, as a description of the above explanation, that spike rose above the trendline.

11:41

in an up target condition, i look for retests/pullbacks below the trendline for entries long, and vice versa.

Give scalping a go tomarrow if its a typical Friday you should get some chop

12:19

But holiday may affect it

12:20

<RussellDaytrade>

brut, on a 5 day chart, there is a lower trendline,that if this low (769) is breached, may be indicative of a trendchange, and induce selling to/near the LOD.

<Brutus>

In other days we get caught fighting the trend

yes I agree

12:22

Today all my trades have been short, even though I saw some good long scalps

12:23

Playing with the trend I was more happy to add to a position like at 11.16

12:24

<pat255>

Rd how do u trade the setups ...on the basis of trend lines?

12:29

<RussellDaytrade>

i look for the setups to develop that meet my model conditions, then look to go counter, ie, overbought, go short, and vice versa. if you refer to the trendlines i have drawn, i am looking at and for primary and secondary entries, ( retests).

after a couple three good days of simtrading, alomost all exclusively short, have just had a string of losing trades, all long, probably good long trade here, just off on timing entries, and have very little to no conviction, yet, for long trades.

Mentally getting away from trading is much
harder to do in comparison to physically getting away from trading when its
time for some rest and relaxation. Personally, one of my favorite ways to
mentally rest is to watch movies I've copy & recorded from the local video
store via mySlysoft
software that copies any copyright protected dvd's and cd's.

<RussellDaytrade>

minor target levels for profita

i'm going for a dose of pain, heck with it.

14:21

er relative strength to dow just now, change of dynamic

14:24

good for nother buck or so, maybe

new target reset, 768 in 35 from low, so about 25 minutes fromnow

14:27

Long ER2 @ 765.5 -> Add «« paper »»

buy stop to enter long ER2 @ 767 «« paper »»

14:28

good action, size on offer with market lifting, trying to shake out remaining longs, hold

14:31

buy stop to enter long ER2 @ 766.5 «« paper »»

cancelled all open stop orders «« paper »»

<Brutus>

Exited 1/2 ER2 Long @ 766.0 --> + 0.8 «« paper »»

<RussellDaytrade>

Exited 1/2 ER2 Long @ 766.2 --> + 0.7 «« paper »»

14:32

<Brutus>

Exited all ER2 Long @ 766.4 --> + 1.2 «« paper »»

Long ER2 @ 765.7 «« paper »»

Exited ER2 Long @ 765.9 --> + 0.2 «« paper »»

14:33

<RussellDaytrade>

stop at 764.5, gotta trade there to get me to close, otherwise wil hold to see how the movie ends

14:35

<Brutus>

Long ER2 @ 765..0 «« paper »»

<RussellDaytrade>

no longer looking to add contracts at scales in, etc

<Brutus>

Exited ER2 Long @ 765.5 --> + 765.5 - 765..0 «« paper »»

14:37

Long ER2 @ 765.4 «« paper »»

14:38

Exited ER2 Long @ 765.0 --> - 0.4 «« paper »»

14:39

<RussellDaytrade>

Exited all ER2 Long @ 764.5 --> - 2 «« paper »»

14:40

that down -.7

<Brutus>

Long ER2 @ 763.7 «« paper »»

14:42

Exited ER2 Long @ 763.8 --> + 0.1 «« paper »»

14:43

<RussellDaytrade>

Long ER2 @ 763.3 «« paper »»

14:44

<Brutus>

Long ER2 @ 762.8 «« paper »»

14:45

Looks like capitulation volume has to be it

14:46

<RussellDaytrade>

just a waypoint, lower tomorrow

i think.

<Brutus>

I think todays ES target was yesterdays low

14:47

<RussellDaytrade>

lower 760's within easy reach of 755-756 area, etc

<jperl>

ER2 weekly VWAP touched 762.56

<Brutus>

Sorry meant day before yesterdays low

14:48

<jperl>

could bounce up from here

<Brutus>

Stop at BE

<jperl>

but since I don't trade longs below VWAP....

I'll stop for the day....

here are todays executions...

hmmm having trouble transmitting file....sec

14:50

<pat255>

vn jay...

14:51

<RussellDaytrade>

time standing still

<jperl>

file server to dacharts seems to be down....

14:52

will try again in a few minutes

<Brutus>

I think we could hit 768 by the close

14:56

<RussellDaytrade>

i got a setup target of 766, but will be surprised to se it

14:57

in about 30 minutes from now

765 seems about right

nice call on tht 765 brut

14:58

4 hour downtrend earlier today, maybe good balance in time coming for rest of day, in a small way price-wise

15:00

<Brutus>

No I dont think so, but market works more to ES targets imo, ER just follows

15:01

<RussellDaytrade>

Long ER2 @ 762.3 -> Add «« paper »»

15:02

<Brutus>

I missed typing my BE stop exit as stated above, but this is all paper

breach of 760 not resolved yet, bounce off of it without breach is typical for first approach, may beach tomorrow, with carry for soem stop running

15:33

er not dropping here on dow selling, relative strength

15:35

<Brutus>

4.5 point bounce once I capitulated :)

16:00

<RussellDaytrade>

i got lucky today...

exited early on those early buys, no conviction, and held on and added nearer the lows, worked out today.

16:01

<pat255>

nice rd

16:02

mkt optn am?

open

<Brutus>

I think its a Normal day

16:03

<pat255>

ty

<RussellDaytrade>

my account is currently fundeda t 9100.00, so i am not inclined to trade in the same manner, ie, 3 contracts with scales..

<Brutus>

Regular Close

16:04

CME Globex Regular Close

<RussellDaytrade>

not quite that gutsy/fortitudeness, if thats a word.

<yo>

gn all

16:05

<RussellDaytrade>

would like to implement trades with a wide stop, say about 2 bucks, on trades i feel are levels that the rubber band is stretched to its extremes..

<Brutus>

If tomorrow is choppy should be some nice scalps, on single contracts

16:06

<RussellDaytrade>

and in that way, invoke some type of fortitude that keeps me in the trade til it either works out, or doesn't...

<Brutus>

But also may be bullish on light volume.

<RussellDaytrade>

any suggestions? thx.

<NihabaAshi>

Anybody in here using the Zen-Fire version of NinjaTrader ???

16:07

<RussellDaytrade>

not i. IB here.

16:08

<NihabaAshi>

I got a pm by someone asking me about it and I know absolutely nothing about it...

<Brutus>

Get you confidence up on scalps with thight stops

N o Niha

<NihabaAshi>

Just figure I can direct the guy to someone that's using it.

<RussellDaytrade>

brut, most of the trades i am looking at, have a 1.-1.5 target. i am currently tracking my accuracy, and it is near 77% combined, 80% long trades, 74% shorts, so i am thinking i may be able to withstand a $2 stop, for an expected target of 1.4 average or so.

I don't always trade nor monitor the market from my home
office. Sometimes I'll do such from one of my favorite nearby Wi-Fi hotspot
or whenever I'm traveling via using this little Wi-Fi detection gadget I got
from Think Geek
that will show more than just the presence of any nearby signal and its signal
strength. It has a 12-character LCD that provides information on
signal availability and strength as well as essential network information,
including SSID, security status and channel. When multiple networks are
present the LCD me to scroll through information for each
network.

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